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​BHP, Esso to market Gippsland Basin gas separately after ACCC probe

( December 18, 2017, 03:47 GMT | Official Statement) -- MLex Summary: BHP Billiton Petroleum and Esso Australia Resources have provided court-enforceable undertakings to market separately their share of gas produced under the Gippsland Basin Joint Venture from Jan. 1, 2019, after an investigation by the Australian Competition & Consumer Commission found that the arrangement had significantly increased their market power. The Gippsland Basin Joint Venture is the largest producer of gas in Australia's southern states, and the joint marketing arrangements saw BHP and Esso agree on the price and other terms on which the joint venture would offer gas to buyers.The regulator's statement follows: ...

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